BluePhoenix Solutions Adds Financial Expert and Technology Veteran Tom
Jurewicz to the Board of Directors
BluePhoenix continues to rebuild board with respected industry leaders by
electing former VMware executive, Tom Jurewicz, to the Board of Directors and
HERZLIA, Israel -- December 07, 2012
BluePhoenix (www.bphx.com) (NASDAQ: BPHX), the leading provider of tools and
services for modernizing legacy systems and applications, announced Tom
Jurewicz as a new member of the Board of Directors, effective immediately.
“Tom helped run finance for VMware for 12 years. His operational expertise in
helping them grow from a small startup to a huge corporation will help us be a
better company,” said Matt Bell, President & CEO.
Thomas J. Jurewicz is a highly respected financial expert in the technology
industry. He spent 12 years at VMware, Inc. (NYSE: VMW) where he held various
financial positions including Treasurer, interim CFO, Board Member of its
subsidiaries, and EMEA Controller. He was integral to the sale of the company
to EMC Corp (NYSE: EMC) and its subsequent IPO. Prior to that, Mr. Jurewicz
served in finance roles for CMC Industries, Inc. (NASDAQ: CMCI), and NETCOM,
On-Line Communications (NASDAQ: NETC). Early in his career, he was an
investment banker for Merrill Lynch & Co (NYSE: ML). Mr. Jurewicz holds an MBA
from Stanford University, and a BS in Applied Mathematics from Yale
“I’m very excited to be involved in BluePhoenix and the turnaround that is
underway,” said Tom Jurewicz. He went on to say, “This company has
significantly improved the balance sheet and I expect to have many discussions
in the near future about how to prepare the company for responsible growth.”
“We are honored to have experts like Tom join our board over the last 6
months. The company has changed dramatically in a very short period of time
and I look forward to working with Tom and all the other new board members to
grow this company in a smart and thoughtful manner,” said Bell.
About BluePhoenix Solutions
BluePhoenix Solutions Ltd. (NASDAQ: BPHX) is the leading provider of legacy IT
modernization conversion solutions. The BluePhoenix portfolio includes a
comprehensive suite of tools and services from global IT asset assessment and
impact analysis to automated database and application migration. Leveraging
over 20 years of best-practice domain expertise, BluePhoenix works closely
with its customers to ascertain which assets should be migrated, redeveloped,
or wrapped for reuse as services or business processes, to protect and
increase the value of their business applications and legacy systems with
minimized risk and downtime.
BluePhoenix provides modernization solutions to companies from diverse
industries and vertical markets such as automotive, banking and financial
services, insurance, manufacturing, and retail. BluePhoenix has 6 offices in
the USA, UK, Italy, Romania and Israel.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements contained in this release may be deemed forward-looking
statements within the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995 and other Federal Securities laws.
You can identify these and other forward-looking statements by the use of
words such as “may,” “will,” “plans,” “believes,” “estimates,” “expects,"
“predicts”, “intends,” the negative of such terms, or other comparable
terminology. Because such statements deal with future events, plans,
projections, or future performance of the Company, they are subject to various
risks and uncertainties that could cause actual results to differ materially
from the Company’s current expectations. These risks and uncertainties include
but are not limited to: the effects of the global economic and financial
trends; market demand for the Company’s products; successful implementation of
the Company’s products; changes in the competitive landscape, including new
competitors or the impact of competitive pricing and products; and such other
risks and uncertainties as identified in BluePhoenix’s most recent Annual
Report on Form 20-F and other reports filed by it with the SEC. Except as
otherwise required by law, BluePhoenix undertakes no obligation to publicly
release any revisions to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
This press release is also available at www.bphx.com. All names and trademarks
are their owners’ property.
BluePhoenix Solutions Ltd.
Gigi Markowitz, +972-9-9526110
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